Omni Capital will lend in the unregulated residential market on both a first and second charge basis with LTVs of 80% on a first charge and 75% on a second charge. Lending periods are from 3 to 24 months and loan decisions are based on the open market value of the property. Funding can be arranged within 24 hours.
Colin was previously CEO of General Electric Money Home Lending and most recently he founded Money Partners Ltd – a start-up company and joint venture with Kensington Mortgages PLC. The business was valued at over £100mm after two years of trading and was eventually sold.
With his robust industry connections and sound knowledge of the sector, Colin will work with the Omni Capital team to continue to build a significant business and deliver its short-term funding solutions to individuals and residential investors over the coming months.
Commenting he said: “The opportunity to join an entrepreneurial new business which has already established itself as one of the key players in the sector is very appealing. The investors have a strong vision to build a significant business in a short space of time which I will be instrumental in executing, and will implement the necessary infrastructure and distribution network to achieve the business goals. This is a very exciting time for Omni Capital.”
Colin’s arrival follows the appointment earlier this year of former Apprentice candidate Liz Locke as business development director and short-term funding expert John Wheeler as sales director.
Chris Candy, CEO of CPC Group, said, “Omni Capital has an unrivalled team of professionals in place and we look forward to growing the business further with Colin onboard.
“CPC Group has committed a substantial amount of funding for Omni Capital to date and the company is now in final stage talks for additional facilities to help grow the company further and making even more funding available to the market. We expect to be able to announce more details soon.”
